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What Is MLM - The Hard Truth

June 15, 2012 | Comments: 0 | Views: 172

The question "what is MLM?" is a question that can be answered in many ways.

According to Wikipedia "Multi-level marketing (MLM) is a marketing strategy in which the sales force is compensated not only for sales they personally generate, but also for the sales of others they recruit, creating a downline of distributors and a hierarchy of multiple levels of compensation."

My answer to "what is MLM?" - MLM stands for Multi Level Marketing and the best way to describe to you what it is, is to explain to you what it does. Basically it is a way for you to have your own business in which you can start with a low initial fee. The more time, effort and commitment you put into your business, the more you will be paid (unlike most jobs).

If you hate the idea of working for someone else, and you believe that you are worth more than what you are paid, then joining a good MLM company is the way to go. With the correct mindset, hard work and patience, the sky is the limit. Having said this, I know for sure that a lot of people will disagree with me since over 90% of MLM members do not make any money at all.

So why is this?

Why is it that for such a simple marketing concept, in that all you have to do is show people your business plan and products, so many people fail?People fail in MLM for so many reasons, but I will tell you why I failed in the beginning. It was too simple!!! It was too cheap to join up!!! I knew everything!!!

My sponsor and good friend used to tell me "when you have an appointment to see someone to show a presentation, give me a call and I will come with you". So what did I do - go alone. I mean how difficult is it to show a 10-15 minute video presentation from my laptop to my friends and family? I wasn't the shy character so I could do it by myself. Wrong, wrong, wrong!!!

So why was my technique wrong? Simply because it wasn't duplicable. The first thing that someone would think when they saw my presentation was - "does this mean that I will have to go around and show the presentation all by myself like this guy??? Whereas if I had taken my sponsor with me, firstly I would have that psychological support that someone else was next to me to help me answer any questions that may arise, but more importantly it would give the message to the viewer that if they joined up, they would not be alone - it's team work!!!

So now that I had made some wrong decisions and chose the wrong approach, it was time to fix it. If I had made these mistakes with any other business I probably would have been out of business sooner than later. No income which leads to bank loans not paid or at least not paid on time, heavy interest penalties, left all alone to pick up the pieces, and so on - you get the message - a disaster. However the luxury we have in Network Marketing is that if you make mistakes in the beginning you can pick yourself up from scratch and start all over. The worst case scenario is that you lost some time and a few of your warm prospects. You still have a team urging you to train you the right way and give you that motivational speech that wakes you up and puts you back on track.

Actually the worst case scenario, come to think of it, is not the above after all. If I had quit after a few blatant rejections, then that would have been a disaster. I know a girl that had been rejected, if I can remember correctly, 54 times before she got her first "Yes" in her business. But and now she has received the money back she spent in ten fold, probably more, earning herself a healthy monthly residual income. Well done Maria!!!

From some of my own experiences, I hope I have answered some of your questions like "what is MLM"? If I was asked to describe what is MLM, and joining a good MLM company in 2 words, it would be "The Future"!!!

Constantinos K Costa is an Internet and Network Marketer who is passionate about learning new skills and teaching others how to utilize these skills. For more information on Personal Development, Internet Marketing and Network Marketing, you can visit us here at http://www.whatyoucanachieve.com

Source: EzineArticles
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